Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) by 1,377.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 5,324,728 shares of the information services provider's stock after acquiring an additional 4,964,350 shares during the period. Baidu accounts for 1.3% of Mirae Asset Global Investments Co. Ltd.'s portfolio, making the stock its 16th biggest holding. Mirae Asset Global Investments Co. Ltd. owned about 1.52% of Baidu worth $490,035,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Dodge & Cox raised its stake in shares of Baidu by 0.4% during the fourth quarter. Dodge & Cox now owns 5,916,215 shares of the information services provider's stock valued at $498,796,000 after purchasing an additional 22,000 shares in the last quarter. Pictet Asset Management Holding SA increased its stake in Baidu by 9.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,410,307 shares of the information services provider's stock valued at $203,213,000 after buying an additional 207,966 shares during the period. Appaloosa LP raised its position in shares of Baidu by 7.2% during the 4th quarter. Appaloosa LP now owns 1,527,909 shares of the information services provider's stock worth $128,818,000 after buying an additional 102,909 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Baidu by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,350,315 shares of the information services provider's stock valued at $113,845,000 after acquiring an additional 4,236 shares in the last quarter. Finally, CoreView Capital Management Ltd boosted its holdings in shares of Baidu by 2.0% in the fourth quarter. CoreView Capital Management Ltd now owns 1,262,003 shares of the information services provider's stock valued at $106,399,000 after acquiring an additional 25,220 shares in the last quarter.
Analysts Set New Price Targets
A number of equities analysts have issued reports on BIDU shares. Barclays set a $84.00 price target on Baidu and gave the company an "equal weight" rating in a research note on Thursday, May 22nd. Benchmark decreased their target price on Baidu from $130.00 to $120.00 and set a "buy" rating for the company in a research note on Thursday, May 22nd. Macquarie reiterated a "neutral" rating on shares of Baidu in a research report on Wednesday, May 21st. Citigroup reduced their price objective on shares of Baidu from $139.00 to $138.00 and set a "buy" rating for the company in a research report on Thursday, May 22nd. Finally, Sanford C. Bernstein reiterated a "market perform" rating on shares of Baidu in a report on Saturday, March 8th. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $107.82.
Check Out Our Latest Report on Baidu
Baidu Trading Up 0.3%
NASDAQ BIDU traded up $0.28 on Tuesday, hitting $86.04. 1,624,594 shares of the stock were exchanged, compared to its average volume of 4,093,726. Baidu, Inc. has a 52-week low of $74.71 and a 52-week high of $116.25. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.29 and a quick ratio of 2.29. The company has a market capitalization of $29.72 billion, a price-to-earnings ratio of 8.54 and a beta of 0.33. The company's 50-day moving average price is $86.92 and its two-hundred day moving average price is $87.67.
Baidu Profile
(
Free Report)
Baidu, Inc engages in the provision of internet search services in China. It operates through two segments: Baidu Core and iQIYI. The company offers Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Baidu Health that helps users to find the doctor and hospital for healthcare needs; and Haokan, a short video app.
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